circulation of the

chap. xxiv.

214

million five hundred thousand pounds. It is onlyby different modes of calculating, on subjects intheir own nature very doubtful, that we can arriveat conclusions, which after all merely approximateto accuracy.

We give, however, in one view the state of thecoined money of Europe , deduced in the way hereadopted, as follows :

The coin in existence at the be-ginning of the year 1700 , beingreduced by friction as stated inpage 192, would at the end of

1809 amount to £226,000,000

To this, if added, the produce of the

mines . . . £880,000,000

From which, deducted for the trade

of Asia , two-fifths . . 352,000,000

528,000,000

We suppose of this that two-thirdswas applied to other purposes thancoin .... 352,000,000

There would remain for coin 176,000,000From which must be deducted forwear on that quantity in theperiod of one hundred and tenyears .... 22,000,000

154,000,000

Leaving as the stock at the end of

1809 .... 380,000,000

I

If no material error has been made in this com-